ZET - JamaicaGazette.com
Jamaica Government News and Information
Ministries, Departments and Agencies

Page 186

Public Bodies Ministry of Education, Youth and Information

(Other) Broadcasting Commission of Jamaica

_____________________________________________________________________________________________

Public Bodies, FY 2016/17 Page Ministry of Finance and the Public Service 182

Income Statement

$m

Audited Estimated Projected

2014/15 2015/16 2016/17

Income:

Licence Fee 255.53 271.62 336.86

Grant of special licence 2.36 1.50 -

Interest Income 34.68 29.50 24.00

Other Income 11.50 17.84 10.00

Total Income 304.07 320.46 370.86

Expenses:

Compensation 75.02 82.35 97.99

Rental of Properties & Others 18.35 19.26 12.69

General Consumption Tax 16.21 30.13 27.04

Consultation and Conferences 3.05 4.48 3.30

Depreciation 3.78 8.19 10.01

Research, Consultancy & Professional 8.36 14.95 16.04

Public Education & Advertising 82.80 83.75 90.00

Monitoring and Enforcement 3.43 4.34 5.27

General Administration 19.21 40.57 45.31

Total Expenses 230.21 288.02 307.65

Net Surplus 73.86 32.44 63.21

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June 12, 2021


Page 217

Head No. 6500

and Title: Ministry of Transport and Works

P R O P O S A L S

Activity/ Service & Object of Approved Provided Savings or Approved

Project Expenditure Estimates by Law Supplementary Under New Remarks & Object Classification

No. 2011/2012 (Statutory) Estimates Expenditure Estimates

FIRST SUPPLEMENTARY ESTIMATES 2011/2012

$000

0629 Grant to National Road Safety Council 11,459.0 11,459.0 Additional requirement due to the transfer of Activity from

Head 1500 - Office of the Prime Minister, effective

July 1, 2011 as follows:

(i) Salaries 10,826.0

(ii) Travel 54.0

(iii) Utilities 156.0

(iv) Goods and Services 423.0

Additional

30 Grants and Contributions 11,459.0

2259 Road Safety Promotion 13,485.0 567.0 14,052.0 Additional requirement

Additional

21 Compensation of Employees 567.0

GROSS TOTAL 1,341,377.0 - 47,367.0 7,260.0 1,381,484.0

LESS APPROPRIATIONS-IN-AID 65,877.0 65,877.0

NET TOTAL HEAD 6500 1,275,500.0 - 47,367.0 7,260.0 1,315,607.0

6500 - 217

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June 12, 2021


Page 200

Public Bodies Ministry of Finance and the Public Service

(Other) Commission">Jamaica Racing Commission

________________________________________________________________________________________________________

Public Bodies, FY 2017/18 Page 196 Ministry of Finance and the Public Service

Commission">Jamaica Racing Commission

Introduction The Commission">Jamaica Racing Commission (JRC) was established on December 29, 1972, under the Commission">Jamaica Racing Commission Act 1972. The mandate of the Commission is to:

• regulate and control horseracing and the operation of race courses in the island;

• grant licenses and permits which may be required by virtue of the provisions of the Act;

• recommend to the Minister of Finance and the Public Service the method of utilising sums, under the Betting Gaming and Lotteries Commission Act, for assistance to breeders of horses and horse racing generally and

• implement or facilitate the creation of any scheme for the development of the horse racing industry.

JRC’s primary sources of funding are the Gross Profit Taxes levied on bookmakers (9.5%). Operational Overview The Commission intends to support ongoing activities to merge its operations with those of the Betting and Gaming and Lotteries Commission and the Casino Gaming Commission. Cognisant of the impending takeover of the operations of Caymanas Track Limited by a nominee of Supreme Venture Limited, JRC will continue to:

• monitor the race day meetings (74 projected);

• conduct routine testing to protect the integrity of the sport;

• benchmark and effect key outputs, such as turnaround times for races, drug testing, ranking of horses to match international standards;

• ensure that races are cleared within 3 to 4 minutes of running (currently 7 to 10 minutes);

• administer the Lasix Programme to prevent bleeding in horses;

• preserve the welfare of stakeholders in the racing industry. JRC projects a surplus of $41.05 million (2016/17: $10.30 million).

The Commission projects to maintain a staff complement of 43.

...
June 12, 2021


Page 2

TABLE OF CONTENTS Introduction .........................................................................................................................................3

Addressing Inaccuracies from the Opposition................................................................................4

Accelerating Debt Repayment & Primary Balance Reduction ......................................................4

Broadening Ownership - Bottom Up Distribution ..........................................................................8

The COVID-19 Context .......................................................................................................................14

The Last Two Weeks: March 10 – 24, 2020 .................................................................................15

What we know ..............................................................................................................................24

Uncertainties Persist .....................................................................................................................26

FISCAL STIMULUS .............................................................................................................................27

Principles that will guide Fiscal Stimulus ......................................................................................27

The CARE Programme .......................................................................................................................29

BEST Cash ...................................................................................................................................30

SET Cash .....................................................................................................................................31

COVID-19 Grants for marginally self employed and informally employed ...................................32

COVID-19 PATH Grants ...............................................................................................................33

COVID-19 Small Business Grant .................................................................................................34

COVID-19 Tourism Grant ..............................................................................................................35

COVID-19 Compassionate Grants ...............................................................................................36

GCT Reduction .............................................................................................................................37

Timing ...........................................................................................................................................38

Other .............................................................................................................................................39

Jamaica Has Options .........................................................................................................................40

Looking Forward ................................................................................................................................42

Concluding Remarks..........................................................................................................................43

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June 12, 2021


Page 65

Ministry of Finance and the Public Service Fiscal Policy Paper 2017 62 | P a g e

Capital Expenditure Capital Expenditure is budgeted at $49.282 billion, an increase of $4.480 billion, or 10% over the 2016/2017 Revised Estimates of $44.801 billion. This level of capital spending represents 2.6% of GDP, up from 2.5% in FY 2016/17.

Spending on Capital A projects (financed by local resources only) amounts to $12.246 billion or 24% of the total Capital spending. The Ministry of National Security has been allocated $3.0 billion or 24% of the total Capital A budget while $1.3 billion or 11% has been allocated to the JUTC received for the purchase of spare parts for the maintenance of its fleet of buses; and $1.5 billion as a loan to the Port Authority of Jamaica to support the establishment of BPO facilities in Montego and Portmore.

Approximately $37 billion or 75% of the overall 2017/18 capital budget will be spent on Capital B projects (financed with support from multilateral/bilateral sources). Of this sum, approximately 50% or $18.518 billion, the largest share of the Capital Budget, has been allocated to the Ministry of Economic Growth and Job Creation.

Social Programmes Social programmes for protected groups will continue to receive priority with respect to the allocation of resources, to ensure that overall spending in these areas is not eroded by inflation. Included are programmes for youth employment, poor relief, children homes and places of safety, school feeding, and the PATH programme targeting the elderly, pregnant and lactating women and children attending school.

To facilitate improved benefits under the PATH Programme in FY 2017/18, an additional $3.68 billion has been allocated, bringing the total provision to $11.47 billion, an increase of 47% over the provision in 2016/2017. The increase is allocated as follows: (i) PATH School Feeding Programme - $1.75 billion; (ii) PATH Cash Grants - $1.9 billion.

Debt Servicing

Total provision for Debt Service is $310,401.0mn, or 43.7% of the budget, compared to 41.9% in FY 2014/15 (Debt Service spiked in FY 2015/16 at 58.3% of budget due to the Petrocaribe liability management exercise). Interest payments are budgeted to fall by 1.7% over the outturn for FY 2016/17 to $137,852.9mn (7.3% of GDP). Domestic Interest costs are budgeted to rise 0.7% to $62,903.4mn, while External Interest costs are budgeted to fall by 3.5% to $74,949.5mn.

The significant rise in budgeted amortization is due largely to maturing Benchmark Instruments (BMI) in the domestic debt as well as maturing Eurobonds (bullet payment) in the external debt. The marginally higher Domestic Interest payments are reflective of the GOJ’s re-entry into the domestic market since February 2016. Notwithstanding, Domestic Interest costs are budgeted to fall from a projected 3.6% of GDP in FY 2016/17 to 3.3% of GDP in FY 2017/18.

...
June 12, 2021


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